Higher number of firms expect wages, hiring, bonus to be hit: Poll
A manpower shortage and an impending economic slowdown left companies less optimistic in September than June.
A new survey found that 21 per cent of firms reported unsatisfactory business prospects in September, up from the 17 per cent recorded in June.
The poll, involving 141 companies, was conducted by the Singapore Human Resources Institute (SHRI) and wage consulting firm Remuneration Data Specialists.
As a result of the decline in optimism, "wage increases, bonus and recruitment plans have been moderated slightly", SHRI said in a statement on Thursday.